Tyko Capital Provides $322 Million Loan for West Palm Beach Marina Project

• Address: 4200 N Flagler Drive, West Palm Beach, FL 33407
• Tyko Capital provided $322 million in acquisition and construction financing for Integra Investments' redevelopment of Safe Harbor Rybovich, a 15-acre marina on the Intracoastal Waterway.
• Integra Investments recently acquired the marina for approximately $72.4 million and plans to expand the property, although specific details of its new development program have not yet been released.
• The site previously had approved plans for a 2.6 million-square-foot mixed-use development with four condominium towers, office, retail, restaurants and marine-related uses.

What The $322 Million Loan Covers

Tyko Capital has provided a $322 million acquisition and construction loan to Integra Investments for Safe Harbor Rybovich, a major marina property at 4200 N Flagler Drive in West Palm Beach. The 15-acre property sits along the Intracoastal Waterway and has become one of the better-known marina destinations in the Palm Beach area. Integra acquired the property from the Huizenga family for approximately $72.4 million and is now preparing to move forward with a new development strategy for the site.

What Integra Plans For The Marina

Integra has not yet released the full details of its redevelopment plans. The company said it is excited about the future of the Palm Beach market and what the project could bring to the community. The scale of the financing suggests that the marina is expected to undergo substantial investment beyond the existing waterfront operations. However, the developer has not announced a final building program, construction schedule or groundbreaking date. That leaves the next phase of the project open-ended, particularly as Integra evaluates how to build around an already active marina and waterfront destination.

What Was Previously Approved For The Site

The property has a long development history. Under the previous ownership, Huizenga Holdings filed plans for a roughly 2.6 million-square-foot mixed-use development that was later approved by local officials. That proposal called for four condominium towers with 660 units, along with approximately 20,691 square feet of office space, 37,445 square feet of retail and 14,376 square feet of restaurant space. The plans also included crew amenities and marine storage. It remains unclear how much of that previously approved program will carry over into Integra's redevelopment plans.

What Makes The West Palm Beach Location Significant

The Rybovich property occupies a prominent stretch of North Flagler Drive facing the Intracoastal Waterway. The site is also part of a larger concentration of waterfront residential and marina development along the corridor. Just north of the property, Related Group owns Icon Marina Village at 4444 N Flagler Drive. Related and Rybovich previously partnered on the Marina Village development, highlighting the area's appeal to major South Florida developers. The marina itself is also an established destination rather than an undeveloped waterfront parcel. That gives Integra the opportunity to build around an operating marine business while potentially adding new residential, commercial and hospitality components.

What Tyko Capital's Role Means

The financing represents the second major project involving Tyko Capital and Integra. In 2024, Tyko provided a $527 million loan for the Ritz-Carlton Residences project in Miami's South Brickell neighborhood involving Integra and Related Group. For Tyko, the Rybovich financing adds another major South Florida waterfront transaction to its portfolio. The firm's Founder and CEO, Adi Chugh, has positioned the company as a private real estate credit and investment platform focused on institutional-quality assets and borrowers.

What Happens Next For The Rybovich Site

Integra has not announced a construction timeline or detailed development program for the property. The immediate focus is expected to be on advancing plans for what could become a major redevelopment around the existing marina. With $322 million in acquisition and construction financing now in place, the project has significant capital behind it as Integra works toward its next phase. The eventual plans could have a meaningful impact on the North Flagler waterfront and West Palm Beach's growing luxury development market.